financetom
Technology
financetom
/
Technology
/
Catalent to sell New Jersey facility
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Catalent to sell New Jersey facility
Oct 14, 2024 3:54 AM

(Reuters) - Catalent ( CTLT ) has agreed to sell its oral drug development and small-scale manufacturing facility in Somerset, New Jersey to private contract drug manufacturer Ardena, the companies said on Monday.

Catalent ( CTLT ) provides contract manufacturing services and performs fill-finish work, which involves the sterile filling and packaging of syringes and injection pens, for drugmakers including Danish pharma major Novo Nordisk's drug Wegovy.

Novo Holdings, the investment firm that has a controlling interest in Novo Nordisk, signed a $16.5 billion deal to buy Catalent ( CTLT ) in February to boost Wegovy supply, with the deal expected to close toward the end of this year.

Catalent ( CTLT ) and Ardena did not disclose financial terms of the deal, which is expected to close in early 2025.

Ardena, a provider of drug development services, said the facility will help boost its commercial production of oral drugs. The FDA-approved Somerset facility employs about 200 scientists and technicians, Ardena said.

(Reporting by Bhanvi Satija in Bengaluru; Editing by Anil D'Silva and Vijay Kishore)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
UN committee unable to agree on Palestinian bid for full membership
UN committee unable to agree on Palestinian bid for full membership
Apr 16, 2024
UNITED NATIONS (Reuters) -A United Nations Security Council committee considering an application by the Palestinian Authority to become a full U.N. member was unable to make a unanimous recommendation on whether it met the criteria, according to the committee report seen by Reuters on Tuesday. The Palestinian Authority is still expected to push the 15-member Security Council to vote -...
America Movil Q1 results tumble against strong peso, 2023 tower sales
America Movil Q1 results tumble against strong peso, 2023 tower sales
Apr 16, 2024
MEXICO CITY (Reuters) -Mexican telecommunications giant America Movil's net profit tumbled 55.2% year-on-year, landing at 13.5 billion pesos ($816.7 million), earnings showed on Tuesday, as a stronger peso and lack of extraordinary income diluted first-quarter results. The company, controlled by the family of Mexican billionaire Carlos Slim, reported revenue of 203.3 billion pesos ($12.3 billion) in the quarter, down 2.7%...
Soybean price resumes the bearish bias – Forecast today - 17-04-2024
Soybean price resumes the bearish bias – Forecast today - 17-04-2024
Apr 16, 2024
Soybean Price Analysis Expected Scenario Soybean price provided new negative trades yesterday, nearing the intraday bullish channels support line. Further decline is expected to visit 1131.40$, representing the next main target. The bearish trend is suggested for the intraday and short-term basis, supported by negative pressure from the EMA50. Continued holding below 1193.10$ is a major condition for the expected...
Wheat price approaches the target – Forecast today - 17-04-2024
Wheat price approaches the target – Forecast today - 17-04-2024
Apr 16, 2024
Wheat Price Analysis Expected Scenario Wheat price provided negative trades yesterday, nearing the first awaited target at 552.80$. Awaiting a break below this level to extend the bearish wave towards 541.80$ as the next main target. The EMA50 continues to exert downward pressure, supporting the continuation of the bearish trend. The bearish scenario remains valid unless the price manages to...
Copyright 2023-2026 - www.financetom.com All Rights Reserved